China’s Xi Jinping spotlights Shenzhen as future for economic growth, Hong Kong given back seat

China’s President Xi Jinping praised the tech-hub city of Shenzhen in a landmark speech on Wednesday, leaving some puzzling over the future of nearby Hong Kong, as China’s traditional global foothold.

Xi said Shenzhen, often dubbed China’s Silicon Valley and home to tech giants Huawei and Tencent, was making “historic leaps” and “achieving miracles.”

He also announced that the area would be given more leeway to pursue opening-up reforms and become a “model city for a strong socialist country.”

Once a small fishing village adjacent to Hong Kong, Shenzhen is now home to about 13 million and was transformed in 1980 by veteran Chinese leader Deng Xiaoping, after he designated it a “Special Economic Zone,” carving out capitalist privileges in the staunchly communist country.

Retracing Deng’s footprints 40 years later during his own southern tour this week, Xi announced Shenzhen would again become a testing ground for foreign investment and talent, and a symbol of China’s place as a global economic power, he said.

His speech follows a five-year plan for the city published on Sunday, to ease regulations including land reforms, encouraging foreign workers and reducing red-tape in sectors such as bio-tech and telecoms. The city will also pilot China’s first digital currency.

Analysts see the focus on Shenzhen, which now has a GDP higher than Hong Kong’s, as a signpost to how China intends to manage its dizzying economic growth — with strict political dominance, while nearby economic powerhouse Hong Kong becomes less relevant.

“The strategy is to submerge the Westernized Hong Kong with more powerful Chinese rule,” said Kent Deng, professor of Chinese economic history at London’s LSE University.

“Xi will not give the West an inch. He sees Hong Kong as a threat to his rule over China. The Shenzhen model is political zero tolerance and

ASML signals double-digit annual growth as quarterly sales jump

AMSTERDAM (Reuters) – Semiconductor equipment maker ASML Holding NV ASML.AS on Wednesday posted a better-than-expected quarterly earnings and forecast a double-digit growth for next year on strong end-demand for electronics devices.

FILE PHOTO: ASML Holding logo is seen at company’s headquarters in Eindhoven, Netherlands, Januari 23, 2019. REUTERS/Eva Plevier

The company reported sales of 3.96 billion euros ($4.65 billion) in the third quarter ended Sept. 30, ahead of analyst estimates of 3.7 billion euros, and a net profit of 1.06 billion euros. In the third quarter of 2019, ASML reported net profit of 627 million euros and sales of 3 billion euros.

ASML Chief Financial Officer Roger Dassen forecast sales of 3.7 billion euros in the fourth quarter and said the company expected “low double digit” growth in 2021.

ASML has a near monopoly on lithography systems, enormous machines that can cost up to $200 million each and play a vital role in the manufacture of computer chips, mapping out their circuitry.

ASML’s customers include major chipmakers, notably global market leader Taiwan Semiconductor Manufacturing Co Ltd 2330.TW, followed by Samsung Electronics Co Ltd 005930.KS and Intel Corp INTC.O.

Although ASML’s financial performance has not yet been hurt by U.S.-China tensions, it could be affected by a split in the supply lines for semiconductor production, which is highly integrated globally.

The Dutch company had already halted plans to sell its most advanced equipment to China after the U.S. government pressured the Netherlands not to grant export licenses under “dual use” military applications.

Last month, Washington asked U.S. equipment makers to seek a license to ship any equipment to SMIC, China’s oldest and biggest computer chipmaker, over military concerns.

The new U.S. trade curbs on SMIC mean ASML must now apply for a license to sell even older-generation equipment to

Interactive Children’s Book Market | Using Interactive Books for Early Literacy to Boost the Market Growth

The global interactive children’s book market size is poised to grow by USD 755.13 million during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Interactive Children’s Books Market 2020-2024 (Graphic: Business Wire)

The growing use of interactive books to increase literacy at an early age among children is a major factor driving the demand for the market in focus. With the rising number of children struggling to read, the importance of early literacy has increased. Encouraging children to develop reading habits from a young age helps in improving their literacy, vocabulary, and creativity. It also boosts language learning abilities. As a result, parents, teachers, and schools are increasingly investing in interactive children’s books. Moreover, these books improve creativity and allow children to use their imagination and enhance the overall vocabulary and productivity. Therefore, the increasing benefits of inculcating reading habits from an early age are contributing to the growth of the global interactive children’s book market during the forecast period.

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Report Highlights:

  • The major interactive children’s book market growth came from the physical books segment. Children prefer physical books as they impart a sense of belonging. Moreover, users of physical books do not have to deal with issues of storage and

Greenhouse Horticulture Market | Improved CO2 Extraction Technologies to Boost the Market Growth

The greenhouse horticulture market size is poised to grow by USD 8.81 billion during 2020-2024, progressing at a CAGR of almost 6% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005873/en/

Technavio has announced its latest market research report titled Global Greenhouse Horticulture Market 2020-2024 (Graphic: Business Wire)

Plants need CO2 to produce glucose during the process of photosynthesis. Greenhouses require additional CO2 to be given to the plants for increasing the yield, even with proper ventilation. CO2 can be extracted from the air using different techniques. Earlier techniques for achieving optimum levels of CO2 included capturing CO2 using biomass or geological engineering. A recent technique called direct air capture captures CO2 directly from the atmosphere. The companies are coming up with advanced technology to extract CO2. Therefore, improvements in CO2 extraction technologies for greenhouses will influence the growth of the greenhouse horticulture market during the forecast period.

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Report Highlights:

  • The major greenhouse horticulture market growth came from the plastic segment. Plastic greenhouses are generally made from polycarbonate, acrylic, polyethylene, or fiberglass. Polycarbonates and acrylics are plastic materials having high impact strength and protect crops from snow as well as hail without breaking. Polyethylene transmits lesser light than glass and is resistant to the impact of hail. Moreover, the adoption of plastic greenhouses is increasing due to lower initial investment costs

Radix Technology Fuels Growth for Pro-Frotas’ 100% Digital Fuel Supply Management Solution

HOUSTON, Oct. 13, 2020 (GLOBE NEWSWIRE) — Pro-Frotas, a 100% digital fuel supply management start-up created in partnership with Ipiranga, is growing its operations with technology developed by Radix Engineering and Software. Ipiranga, a subsidiary of Ultra, is the largest private player in the Brazilian fuel distribution market, with nationwide coverage and a network of approximately 7,200 service stations.

Pro-Frotas was conceived with the purpose of reinventing the fleet refueling business, with technology that would supply 100% digital, free supply management and payment. Pro-Frotas contracted Radix, IIOT digital transformation experts, to create an application and web portal for management and control of fueling.

“The Pro-Frotas project was challenging from the start, in terms of both team and deadline. In order to develop a completely innovative product in the transportation market, we had to condense timelines. We created deliverables on short notice that provided a simple and reliable interface for the customer. To do this, we had to have a very engaged multidisciplinary team. Besides that, Radix began the project in 2016, and it was the first large-scale use of an agile methodology,” says Thiago Fernandes, project manager at Radix.

This innovative solution is composed of an app for filling stations and a portal for management and supply control, ensuring a safer, more reliable experience for drivers and managers.

Deployment and financial success were quickly achieved. In its first semester of operations (2019), Pro-Frotas had more than 5,000 downloads of its application, registered an average of more than 20,000 transactions per month, and expanded the network of accredited service stations to more than 600 units. Today, a year later, there are almost 7000 vehicles from 350 fleets, accumulating more than 32,000 transactions per month.

To suit different types of users – drivers, fleet managers and gas stations –